Triplex with Deck and
New
For Sale
$449,999
10 Libby Avenue, Lewiston, ME 04240
Multi-Family, Lewiston, ME
Property Size3,168 SF
Lot Size0.15 Acres
Price / SF$142.05
Days on Market2
Property Features for 10 Libby Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Basement, Bathroom 3
Patio and Porch features
Porch, Deck
Interior features
Attic, Storage
Basement
Full
Lot features
Open, Level, Sidewalks, Near Town
Standard status
Active
Size
3,168 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4013
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Other (Heating), Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1925
Number of units
3
Flooring type
Tile, Laminate, Wood, Linoleum
Building materials
Wood Frame, Vinyl Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
HomeSmart
(207) 602-1662
Listed By:
Brian Wood
(207) 333-2890
Added: Sep 21
Changed: Sep 22
Last Checked: Sep 22 at 4:06PM
MLS# 1681422
Copyright © 2026 Maine Listings. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,168-square-foot triplex sits on a 0.15-acre lot and was built in 1925. The property includes three residential units, with the first-floor unit currently vacant. Interior features include attic and storage areas, while flooring varies among laminate, tile, linoleum, and wood. Newer updates are present throughout the building, which also includes a basement, three bathrooms, a deck, and a porch.
The property is served by public water and public sewer. Heating is provided by natural gas hot-water baseboard systems, and the exterior features wood-frame construction with vinyl siding and a shingle roof. Located at 10 Libby Avenue in Lewiston, the property carries Res zoning.
The property is served by public water and public sewer. Heating is provided by natural gas hot-water baseboard systems, and the exterior features wood-frame construction with vinyl siding and a shingle roof. Located at 10 Libby Avenue in Lewiston, the property carries Res zoning.
Key Highlights
- Triplex containing 3,168 square feet on a 0.15‑acre lot
- First‑floor unit is currently vacant
- Built in 1925 with newer updates throughout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,246
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$624,920
$624.9K
Cap Rate 7%
$446,371
$446.4K
Cap Rate 9%
$347,178
$347.2K
Market Conditions
NOI Build-Up for 3,168 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.2K $14.28/SF
− Vacancy
−$602 −$0.19/SF
EGI
$44.6K $14.09/SF
− OpEx
−$13.4K −$4.23/SF
NOI
$31.2K $9.86/SF
Area
Androscoggin County, ME
Vacancy
1.33%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$624,920
Cap Rate 7%
$446,371
Cap Rate 9%
$347,178
Alternative Uses
Best Use
Multifamily LT 5
$446.4K
$390.6K – $520.8K
NOI $31,246 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$424.1K
$371.1K – $494.8K
NOI $29,687 @ 7.0% cap · market cap 6.60%
Theoretical Best
Warehouse
$5.63M
$4.92M – $6.56M
NOI $393,862 @ 7.0% cap · market cap 87.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
444
Businesses Nearby
Explore this area
Business Placement
Demographics for 04240, ME
37,121
Population
16,852
Households
2.2
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
34.1 sq mi
ZIP Area
1,089
Density / Sq Mi
$56,558
Median Household Income
$36,734
Median Earnings
$954
Median Rent
$214,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with one vacant unit, public utilities, and storage space.
Where is this triplex located?
The property is located at 10 Libby Avenue Lewiston, ME.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: Triplex containing 3,168 square feet on a 0.15‑acre lot; First‑floor unit is currently vacant; Built in 1925 with newer updates throughout
